Tenstorrent, led by CEO Jim Keller, has secured $1.5 billion in a Series E funding round. The investment brings the company's total valuation to $6.2 billion. The round was co-led by Trace Capital and Innovation X, with participation from investors including Morgan Stanley, Fidelity Management & Research Co., ARK Invest, and T. Rowe Price.
The startup develops AI compute platforms based on the RISC-V instruction set, including Galaxy servers, TT-QuietBox workstations, and Blackhole cards. These systems utilize the company's proprietary Tensix Neo accelerators and Ascalon CPUs. The hardware is designed for scalability and energy efficiency, aiming to provide an alternative to Nvidia's GPU offerings.
Beyond hardware, Tenstorrent provides an open-source software stack to support its platforms. This includes the TT-Forge compiler, the TT-Metalium software development kit, and TT-LLK for kernel optimizations. These tools allow developers to compile and execute AI models on the company's custom silicon.
The company plans to use the new capital to scale global production of its Galaxy servers, which are currently used by firms like Virtu Financial and Equinix. Additionally, the funds will support research within the RISC-V ecosystem and facilitate the expansion of the company's global workforce.
